tru Independence LLC purchased a new position in shares of Triumph Group Inc (NYSE:TGI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 36,425 shares of the aerospace company’s stock, valued at approximately $328,000. tru Independence LLC owned 0.07% of Triumph Group as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Triumph Group by 2.0% in the first quarter. State Street Corp now owns 2,717,937 shares of the aerospace company’s stock valued at $18,373,000 after buying an additional 53,647 shares during the last quarter. UBS Group AG raised its stake in Triumph Group by 402.5% during the 1st quarter. UBS Group AG now owns 1,370,618 shares of the aerospace company’s stock valued at $9,265,000 after acquiring an additional 1,097,863 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Triumph Group by 58.0% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 1,011,073 shares of the aerospace company’s stock valued at $9,110,000 after acquiring an additional 371,151 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Triumph Group by 44.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 814,668 shares of the aerospace company’s stock worth $5,507,000 after acquiring an additional 249,800 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Triumph Group by 526.4% in the 2nd quarter. Federated Hermes Inc. now owns 719,202 shares of the aerospace company’s stock valued at $6,480,000 after purchasing an additional 604,382 shares during the last quarter. Institutional investors own 84.87% of the company’s stock.
Several brokerages recently weighed in on TGI. Canaccord Genuity reaffirmed a “hold” rating and set a $8.00 price target on shares of Triumph Group in a report on Thursday, August 6th. Cowen restated a “hold” rating and issued a $5.00 target price on shares of Triumph Group in a research note on Wednesday, August 5th. JPMorgan Chase & Co. downgraded shares of Triumph Group from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $8.00 in a report on Wednesday, August 12th. ValuEngine cut shares of Triumph Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, SunTrust Banks downgraded shares of Triumph Group from a “hold” rating to a “sell” rating and set a $5.00 price objective for the company. in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.33.
Shares of NYSE TGI traded up $0.54 during trading on Wednesday, hitting $8.14. 37,194 shares of the company were exchanged, compared to its average volume of 1,672,510. Triumph Group Inc has a 1 year low of $3.02 and a 1 year high of $29.38. The company has a market cap of $395.76 million, a price-to-earnings ratio of -1.32 and a beta of 2.64. The firm’s fifty day moving average price is $7.14 and its 200 day moving average price is $8.08.
Triumph Group (NYSE:TGI) last released its quarterly earnings data on Tuesday, August 4th. The aerospace company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). Triumph Group had a negative return on equity of 12.76% and a negative net margin of 12.14%. The company had revenue of $495.08 million for the quarter, compared to analysts’ expectations of $462.84 million. As a group, sell-side analysts forecast that Triumph Group Inc will post -0.46 earnings per share for the current year.
About Triumph Group
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support. It offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, landing gear actuation systems, control system valve bodies, landing gear components and assemblies, electronic engine controls, main engine gear box assemblies, exhaust nozzles and ducting, fuel pumps, geared transmissions and drive train components, secondary flight control systems, fuel metering units, and vibration absorbers.
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